CoinGecko’s Co-founder Bobby Ong Water Down Acquisition Talks

Bobby Ong, a co-founder and chief operating officer at CoinGecko has said that the cryptocurrency tracking website CoinGecko is open to acquisitions, but not right now.

Ong says CoinGecko is far from selling off though the crypto winter is biting hard.

CoinGecko is instead preparing for the eventual bull run that will come again, Ong said.

According to the chief operating officer, CoinGecko had 100 million monthly pageviews in July, experiencing an 85% decrease in traffic compared to the peak in November 2021.

The traffic decline comes in line with the price movement of Bitcoin (BTC), which reached an all-time high above $68,000 last November.

Despite shrinking revenues and the ongoing uncertainty around the crypto market, CoinGecko is still holding strong in terms of its headcount.

CoinGecko has nearly doubled its staff over the past seven months from 30 to 57 team members and has not laid off any employees.

CoinGecko is also not considering a hiring freeze, Ong said.

CoinGecko is the biggest rival of CoinMarketCap, the crypto price-tracking website that was bought by Binance in April 2020.

Binance has never officially announced the cost of the deal, while it was rumored to cost the firm $400 million.

Ong said that CoinGecko has been approached multiple times by exchanges, venture capitalists and angel investors, but CoinGecko opted to prioritize independence and stay neutral.

Ong did concede that CoinGecko could sell its platform someday.

“At some point in the future, we will be open to selling the firm but right now, it is too early to sell. The crypto industry is still in its first inning and there will be high growth in the coming years.”